Do Kwon's Extradition: The US Wins the Battle for the Terraform Labs Co-Founder

user avatar

by Giorgi Kostiuk

2 years ago

Montenegro officially extradited Do Kwon, co-founder of Terraform Labs, to the United States, marking the end of a year-long legal battle between South Korea and the US.

The Extradition Details

On December 31, 2024, Montenegrin police handed Do Kwon over to FBI officers at the Podgorica Airport. Prime Minister Milojko Spajić confirmed the transfer, stating that Kwon would face charges in the United States. This decision followed Justice Minister Bojan Božović's rejection of South Korea's extradition request.

Legal Battles and the Terra/Luna Collapse

Do Kwon's troubles began with the collapse of the TerraUSD stablecoin and its sister token Luna in May 2022, sparking global outcry and leading to charges of fraud and market manipulation by authorities in the US and South Korea.

Arrest and Prolonged Legal Saga

After months in hiding, Kwon was arrested in Montenegro in March 2023 for attempting to travel with forged passports. Montenegrin courts deliberated on the case for over a year. Eventually, Montenegro prioritized the US extradition request.

The extradition of Do Kwon marks a significant milestone in international cooperation on extradition and justice, underscoring the importance of global efforts in combating financial crimes.

Tier I

Sector: #18291

Sealed Hiding Place Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, hiding places will be stored in your inventory and can be opened with Keys.

Other news

Nvidia Introduces OpenShell Reference Architecture for AI Agents

Nvidia has introduced the OpenShell Reference Architecture, a design for managing autonomous AI agents, at GTC Berlin.

user avatarNguyen Van Long

OpenAI Announces $1 Billion Commitment to Cybersecurity

OpenAI announced a $1 billion commitment to enhance cybersecurity measures through its AI program, Daybreak, aimed at providing subsidized access to advanced AI tools for defenders of critical infrastructure.

user avatarSatoshi Nakamura

Elon Musk Proposes Merger of SpaceX and Tesla

Elon Musk announced that SpaceX and Tesla have formed special committees to explore a merger that could create a corporation valued at approximately $35 trillion.

user avatarJesper Sørensen

Standard Chartered to Acquire Zodia Custody

Standard Chartered has signed definitive agreements to acquire Zodia Custody Limited, enhancing its digital asset safekeeping services.

user avatarRajesh Kumar

Critical PHP Vulnerability Leads to Global Website Shutdowns

A critical vulnerability in PHP has caused panic worldwide, leading several countries to take down government websites and urging organizations to shut down their PHP-based sites.

user avatarLucas Weissmann

Probly Showcases Innovative Prediction Market Solutions at TOKEN2049

During TOKEN2049, Probly showcased its innovative approach to prediction markets, emphasizing accessibility, broad market coverage, and onchain settlement.

user avatarFilippo Romano

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.